Luoxin Pharma Announces $301 Million Privatization Offer

Shandong Luoxin Pharma of Shanghai received a $301 million management-led privatization offer. Ally Bridge Group, which is participating in the deal, will buy 33% of the company's outstanding shares, and the company's management will purchase the rest. The offer represents a 25% premium over the previous closing price -- the stock has not been trading since early this month pending news. Luoxin offers a broad list of products, including antibiotics, anti-virals and cancer treatments. The offer prices the company at about 24 times earnings. More details.... Stock Symbol: (HK: 8058) Share this with colleagues: // //